As a child, you may recall your mother or father telling you, “Nothing in life is free”. Water, one of earth’s most bountiful natural resources has a price. America, although deemed “The Land of the Free”, is a country where its citizens must pay to live. In the United States, all of its citizens play an intricate part in its economic system.
Your life in America is an economic journey. All productive citizens are required to produce income. All productive citizens must realize they are an economic entity within America’s economic system.
It is your personal responsibility, as an economic entity, and household leader to understand how this system works, and exactly how this system effects you and your family’s future.
The United States has the ability to sustain its economic position by establishing an annual federal budget, and utilizing an annual taxation system as a method of managing its budget.
All economic entities that function within America’s economic system has a distinct role. In our economic system, there are either winners or losers. When using the words winning and losing, we are not referring to one’s personality, character or intellect. The division of the two economic classes into economic winners and economic losers is in reference to someone’s ability to keep, grow, and circulate wealth in the economic system we are in. The difference between economic winners and losers is their designed legal structure that they use to travel life’s economic journey.
Economic Winners and Losers both participate in America’s taxation system on an annual basis. However, Winners are responsible for approximately 20% of the annual budget, whereas Economic Losers are responsible for around 80% of that budget which is sustained through the taxation system.
An economic losers’ annual income is taxed through a multiple taxation system, which makes it virtually impossible to build generational wealth that will take care of the entire family unit.
An economic winner has the ability to manage their annual income throughout the year, and only taxed through a single taxation system due to their superior structural design.
While traveling your economic journey, it is important to understand the system you are operating in. Your personal understanding of America’s Economic System will determine the success you will have during the span of time it takes you to complete your economic journey.
The greatest aspect of America’s system is the freedom to choose which economic class you wish to belong to. There are endless resources that will provide opportunities for wealth development and proper economic growth for individuals and business owners. Whether or not you win or lose is all up to you; the choice is yours.